Question

It's very urgent

which of the following statements about corporation is true

1) they are more common then partnerships in the U.S.
2) they are the most inexpensive form of business to start.
3) they are very easy to start
4) all business debts are the personal responsibility of the owners

Answer 1

Answer: While not usual they can be held responsible for all business debts.

Explanation: If you pledge a asset as a collateral a creditor may be able to take said asset and sell it.